A trader has turned a modest $321 investment into more than $2.18 million in just 11 days, according to on-chain data shared by blockchain analytics platform Lookonchain. Key Takeaways: Early, small-scale accumulation allowed one trader to capture a 6,800x return on a Solana memecoin. A long period of flat trading preceded a sudden 700% price surge driven by rising volume and liquidity. The case highlights both the upside and the extreme risks of memecoin speculation. The wallet, identified as 8BGiMZ, accumulated roughly 45.58 million tokens of a Solana-based meme coin known by its ticker “114514” through a series of small swaps. Transaction records show the trader steadily bought the token over several days, with individual purchases often costing less than a few dollars’ worth of SOL. At the time of writing, those holdings are valued at approximately $2.18 million, marking a return of around 6,800x. From Flat Trading to 700% Surge On-chain activity indicates the trader began accumulating the token early, well before the sharp price surge. Screenshots from decentralized exchange trackers show a long period of flat trading, followed by a sudden vertical move as buying pressure increased. Within hours, the token’s price exploded, pushing its fully diluted valuation close to $50 million. Data from Dexscreener highlights the scale of the rally. Over a 24-hour period, the memecoin surged nearly 700%, with trading volume climbing above $20 million. Liquidity also expanded rapidly, helping fuel further speculation as thousands of new wallets entered the market. Turned $321 into $2.18M — a 6,800× return. What a legend! Over the past 11 days, trader 8BGiMZ spent just $321 to buy 45.58M $114514, now worth $2.18M — a staggering 6,800× ROI. https://t.co/tJHgoe574k pic.twitter.com/H9zei5GQlv — Lookonchain (@lookonchain) January 6, 2026 Despite the eye-catching gains, the episode underscores the extreme risk tied to memecoin trading. While early buyers can see outsized returns, such moves often depend on timing, social momentum, and thin liquidity. Late entrants are frequently left exposed when early holders begin to exit. So far, there is no clear indication that the trader behind 8BGiMZ has sold a significant portion of the holdings. On-chain records show no large outbound transfers, suggesting the position remains largely intact. Meme Coin Dominance Rebounds From Historic Lows as Risk Appetite Returns After a year-long decline, meme coin dominance has staged a sharp reversal from historic lows , as the sector’s total market capitalization climbed back above $50 billion. Tokens such as PEPE, BONK, and FLOKI led the rebound with strong double-digit gains, reigniting debate over whether the move reflects short-term speculation or an early signal of broader altcoin rotation. Market data shows the shift is significant. Meme coins had fallen from around 11% of the total altcoin market in late 2024 to just over 3% by December 2025, a level previously associated with major liquidity expansions. Recent data from Santiment and CoinGecko indicates the sector jumped more than 20% in early January, with rising volume and renewed wallet activity suggesting risk appetite is returning faster than expected. Unlike past cycles, the current rebound also has a regulated angle. Leveraged memecoin ETFs, including Dogecoin-linked products, have attracted strong demand, extending meme exposure beyond crypto-native traders. As the sector diversifies into themes such as PolitiFi and AI memes, its resurgence is increasingly influencing exchange listings, fund strategies, and the broader structure of the altcoin market. The post Trader Turns $321 into $2.18M in Just 11 Days With This Solana Meme Coin appeared first on Cryptonews .
